Gold scales new 25-year high, silver shines

Yahoo News ^ | April 28, 2006 | Zach Howard

[Glenn]

Buy precious metals quickly!

(While they are still worth something).

[Centurion2000]

The real question is this: why are the prices of all of the following in parabolic rises -- gold, silver, zinc, uranium, copper, iron.

I'll take Devaluing US Currency for $200 ... err $10000 Alex.

[bjs1779]

I suppose there is a correlation between the current COT short position and the no of ounces, and its prob not a big deal to do the math.

I was trying to figure that out today. From what I looked at on COT, I couldn't even correlate Ag's 700,000,000 oz short selling you mentioned. I was hoping to find a way to deduce au from that. : (

[bjs1779]

I'll take Devaluing US Currency for $200 ... err $10000 Alex.

That's about right isn't it? 2 cents on the buck? Then we have to factor in that it takes 3 cents to make them. Is there a chart to show where this is sound economics?

[phelanw]

The back pages of the Economist report money supply growth for several countries. Interesting story. Of course the Fed has stopped reporting M3, but their numbers up till then showed growth of 8-8.9%.

If the economy is growing at 4.X%, as they say, money supply is still growing twice as fast. Anyone who is not protecting their assets by diversifying into some PM and other commodities needs to take Macroeconomics 101.

[Sic Luceat Lux]

Gold: $$672.90
Silver: $15.86
kitco.com

[Sic Luceat Lux]

Gold closed above $700 today in N. Y.!
Silver close: $14.59.

See ongoing/related article:

Silver shines but equities decline (Silver breaks $10/ounce! 22-year high!)

http://www.freerepublic.com/focus/news/1588981/posts?q=1&&page=255

[Sic Luceat Lux]

(now noticing my typo in post #26 -that should have been $13.86 that day for silver)

[Sic Luceat Lux]

N. Y. gold now at $701 - silver at $14.42.